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Determining Missing Items from Computations Data for the California, Midwest, Northwest, and Texas divisions of Firefly Industries are as follows: Invested Profit Operating Return on

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Determining Missing Items from Computations Data for the California, Midwest, Northwest, and Texas divisions of Firefly Industries are as follows: Invested Profit Operating Return on Investment Investment Margin Sales Income Assets Turnover California 6,000,000 (a) (b) 16% 20% (c) $1,512,000 (f Midwest (d) (e) 12% 1.4 Northwest 13,750,000 (g) $11,000,000 17.5% (h) (i) Texas 5,250,000 840,000 3,500,000 (j) (k) (1) a. Determine the missing items, identifying each by the letters (a) through (I). Round profit margin to one decimal place and investment turnover to two decimal places. Answer Answer 1,200,000 . g. b. h. 0% i. C. d. j. 0% k. e. f. b. Determine the residual income for each division, assuming that the minimum acceptable rate of return established by management is 10%. Division Residual Income California Division: Midwest Division: $ Northwest Division: Texas Division

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